Nomura

Korea Expressway Corporation is back in the market with a three year transaction on Tuesday as Korean credits come out in force with mandates and new issues.

Woori Bank is set to continue the rush of Basel III compliant tier two paper having mandated banks for a transaction which is expected to launch Wednesday.

Iceland's Arion Banki is to test the outer limits of investors’ growing receptiveness to peripheral European credits. The bank, carved out of the failed Kaupthing, is seeking to launch the first euro bond from an Icelandic financial institution since the credit crisis, writes Graham Bippart.

Iceland’s Arion Banki is planning to sell the country’s first benchmark euro bond from an Icelandic bank since the crisis, after Allied Irish Banks and Intesa Sanpaolo last week sold benchmark five year transactions that stirred up expectations that other peripheral banks were looking to come to market with longer dated paper.

In what was an all-around impressive week for peripheral bank issuers, Allied Irish Banks and Italy’s Intesa Sanpaolo printed five year senior deals, proving investors are willing to go further out on the credit curve for longer in the search for yield.

Oaktree Capital sold its entire holding in recently floated central and eastern Europe-focused alcoholic drink firm Stock Spirits Group on Monday night. It was an accelerated bookbuild for a possibly unprecedented 500 average trading days volume in the shares.

French regions will sell a spate of private placements in the coming weeks despite a sluggish start to the year, according to medium term note dealers. Bankers expect the borrowers to print larger and longer notes than last year.

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Demand for bank private placements has surged in recent weeks despite borrowers maintaining aggressive levels, according to medium term note dealers. The banks are expected to sell a spate of deals next week as they hope to take advantage of the demand before the Easter holidays.

Allied Irish Bank will sell its second senior unsecured benchmark since the crisis on Wednesday afternoon, a curve extending five year trade that has drawn a favourable response from investors.

Woori Bank has picked banks for what would be South Korea’s first US dollar Basel III offering.

Dutch corporate services company Intertrust Group has allocated €837m-equivalent of loans in euros and dollars, but investors in the deal plumped for security - the first lien tranche drew stronger support than the second lien.